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Risks and Uncertainties | 12 Months Ended
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Dec. 31, 2024
Risks and Uncertainties [Abstract] |
RISKS AND UNCERTAINTIES | 24. RISKS AND UNCERTAINTIES PRC Regulations There are substantial uncertainties regarding the interpretation and application of PRC laws and regulations including, but not limited to, the laws and regulations governing our business and the enforcement and performance of our arrangements with customers in certain circumstances. We are considered foreign persons or foreign funded enterprises under PRC laws and, as a result, we are required to comply with PRC laws and regulations related to foreign persons and foreign funded enterprises. These laws and regulations are sometimes vague and may be subject to future changes, and their official interpretation and enforcement may involve substantial uncertainty. The effectiveness of newly enacted laws, regulations or amendments may be delayed, resulting in detrimental reliance. New laws and regulations that affect existing and proposed future businesses may also be applied retroactively. We cannot predict what effect the interpretation of existing or new PRC laws or regulations may have on our business. Customer concentration risk For the year ended December 31, 2024, two customers accounted for 35.86% and 13.57% of the Company’s total revenues. For the year ended December 31, 2023, one customer accounted for 85.84% of the Company’s total revenues. Vendor concentration risk For the year ended December 31, 2024, one vendor accounted for 90.77% of the Company’s total purchases. For the year ended December 31, 2023, one vendor accounted for 87.58% of the Company’s total purchases.

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 275 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/275/tableOfContent + Details
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